Siemens Energy AG is working with Goldman Sachs Group Inc. as it prepares to start fielding offers for a majority stake in its steam turbine business. The German energy technology company is set to hold a board meeting Tuesday to decide how to proceed with a divestment of the Transformation of Industry division. This move marks a strategic shift for the conglomerate as it focuses on core energy technologies.

The process follows earlier market speculation about potential buyers and valuation ranges. Industry analysts suggest the stake sale could unlock significant value for shareholders. Siemens Energy has not commented publicly on the timeline for the divestment process.